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Jan 21, 2013 3:00pm PST
borrowing money until may 19. the current debt ceiling-- $16.4 trillion-- could be reached as early as mid-february. the house bill does not specify a new dollar amount. it does mandate that congress approve budgets, or lawmakers won't be paid. major league baseball lost two hall of famers over the weekend. st. louis cardinals great stan musial-- "stan the man"-- died saturday at his home just outside the city. he played 22 years, helping the cards win three world series titles in the 1940's. he was widely regarded as one of game's greatest hitters ever. stan musial was 92 years old. also saturday, former baltimore orioles manager earl weaver passed away, during a caribbean cruise. weaver won the world series in 1970, and took his teams to three others. along the way, he gained fame for his fiery, in-your-face confrontations with umpires. he was ejected from games 91 times over 17 seasons. earl weaver was 82 years old. >> brown: finally tonight, a closing reflection on the inauguration. the coming ceremony inspired spoken word artist leah green of oakland, california, to write and perform
Jan 20, 2013 7:30pm EST
. that is the question of the day, isn't it, jared? the debt ceiling debate, the u.s. set to hit that $16 trillion limit on borrowing in the next month, if we haven't hit it yet. let's take a listen to what president obama had to say about the potential battle looming in congress. >> markets had could go haywire, interest rates would spike for anybody who borrows money. every homeowner with a mortgage, every student with a college loan, every small business owner who wants to grow and hire. >> jared, how does this play out? >> well, we're beginning to hear lots of sounds from republicans that are more in a compromising mode than we heard a week ago. right now they're talking about perhaps an increase in the debt ceiling that lastins for a coup months. frankly, and russ may agree with me here, i don't think markets would react very approvingly to basically just another lurch from crisis to crisis. it wasn't too long ago that, maria, you and i were in these chairs talking about the fiscal cliff. now the debt ceiling. do you want to have this discussion two months from now? >> i think everybody believes th
FOX Business
Jan 21, 2013 1:00pm EST
. we talk a lot about the debt ceiling and the fiscal cliff, what has gone unnoticed is what is happening at the federal reserve. we're talking about $1.46 trillion in bank reserves parked at the federal reserve, it could rise 2.6 tree and dollars by next year so look at this graph line we are showing you. back to 1960. you will see flatlining through 2010 and look at that spiked higher on the far right. now trending toward $2 trillion, north of that by next year, so talk about what happens when the federal reserve drops interest rate and pays the bank to park that money at the federal reserve, what if it dropped it to zero? federal reserve says we can actually raise interest rate and keep the money parked at the federal reserve. paintings half of a percentage point. in other news that has gone totally unnoticed, they will hit more than $3 trillion by the end of february, so that it'd be deal. talking for the first time the explicit unemployment target rate around 6.5%, and you can imagine the fed balance sheet will continue to balloon until we get the jobless rate down. $3 t
Search Results 0 to 2 of about 3